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2024/02/26

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Insight into the Australian market: Analysis of customer characteristics that foreign traders must k

With the gradual easing of Sino Australian relations, trade between China and Australia is becoming increasingly close, which is undoubtedly good news for foreign traders. Because with the shrinking demand in the European and American markets, more and more foreign traders are looking for new markets and opportunities, and Australia is actually one of the markets that can be developed.

Of course, before developing the Australian market, foreign traders also need to do a preparatory work, which is to understand the characteristics of Australian customers, because only with sufficient understanding of the target customers can you adopt the correct development and negotiation strategies, thereby increasing the possibility of transactions.

Pay attention to rest time

Australian clients place great emphasis on rest time, so foreign traders should avoid discussing matters with others during their break time. This neither drives the progress of the matter nor leaves a negative impression on the client. Correspondingly, most Australian clients can understand the situation where you are unable to respond during your vacation. If you inform the other party of the reason, they generally understand.

Pay attention to product quality

Australian customers have relatively high requirements for product quality, but at the same time, they also pay more attention to cost control, so it will be a significant challenge for foreign traders. In addition, Australian customers are more focused on product personalization and do not prefer highly homogeneous products because these products lack competitiveness in the fierce market competition.

Strict factory inspection standards

Australian customers attach great importance to factory inspection. Before reaching a cooperation, the vast majority of Australian customers will require factory inspection, and the standards are relatively high. Of course, the other party will also give you the opportunity to rectify, but after the rectification, the other party will also request another factory inspection.

It is obvious that conducting another factory inspection is a very troublesome task for both parties, and it can also lead to customers seeking other suppliers. Therefore, foreign traders must make sufficient preparations before Australian customers come to inspect the factory, so that the inspection can pass at once.

credit standing

The overall reputation of Australian customers is relatively good, but we also know that the overall reputation does not necessarily mean that every individual has a good reputation. At the same time, most Australian customers are also unwilling to accept advance payments, so foreign traders still need to conduct customer background checks to reduce the risk of delayed payments.

You can directly search for customer names through tracking data, and see detailed information about customers, including transaction volume, transaction weight, transaction frequency, partners, etc. Through basic background checks, foreign trade personnel can not only filter out customers with high matching accuracy, but also have a basic understanding of their business and reputation status.

（Source：ueedata）

For example, when we search for the Australian customer "DOM VENTAS PTY LTD", we will find that they have a very high number of transactions, and the cooperating suppliers are relatively stable. They have transacted with the same supplier more than 9000 times, which means they are still relatively trustworthy. Otherwise, the other party would not have transacted with them so many times. So if you receive an inquiry from the other party, you need to be more attentive.

If you want to learn more about the characteristics of Australian customers, you can send us a private message~

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